HPQ Sep 2024 22.000 call
- Yahoo Finance Video
PC refresh lifting demand ahead of AI computers: HP Inc. CEO
HP Inc. (HPQ) managed to best its fiscal second-quarter earnings estimates, posting $12.8 billion in revenue (expected $12.6 billion) and adjusted earnings of $0.82 per share ( expected $0.81 per share), slightly revising its full-year forecast. The computer company also reported a rise in PC sales as demand returns to the industry on anticipated AI innovations. HP Inc. CEO Enrique Lores sits down with Yahoo Finance Executive Editor Brian Sozzi to talk about the earnings figures, consumers' needs to "refresh" and upgrade their personal tech, and what HP will be bringing to the table with its AI-powered devices. "This is the first quarter in eight where our PC business grew and [was] especially driven by the commercial side, both enterprise and SMB [small and medium-sized businesses]," Lores says, later adding: "There is a significant need to refresh now because of how old the install base is, and second, we think that AI is going to be very impactful. But the penetration is going to take some time." Envisioning AI PCs to grow from 10% at launch in 2024 to 46% of the market in three years, Lores explains that HP computers will be equipped with two processors to handle the workload: "There has been a lot of work to make sure that not only we cope with the demand of our customers, but we really can excel the expectations that our customers are going to have." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
HP Q2 results top estimates thanks to rise in PC sales
HP Inc. (HPQ) posted second quarter results that were slightly better than expected. Adjusted earnings per share of $0.82 was just above the expected $0.81. Net revenue of $12.8 billion topped the $12.6 billion estimate. The tech giant also narrowed its full-year adjusted earnings per share forecast to a range of $3.30 to $3.60 from $3.25 to $3.65. As Yahoo Finance's Julie Hyman and Josh Lipton explain, the results were fueled by a rise in PC sales. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Stephanie Mikulich.
- Reuters
HP beats revenue estimate on recovering PC demand
HP Inc beat Wall Street estimates for second-quarter revenue on Wednesday, signaling a recovery in the personal computer (PC) market as customers upgrade their systems. Chief Executive Enrique Lores told Reuters in an interview that he expects about 10% of HP's PC sales to come from such "AI PCs" in the second half of the company's fiscal 2024. "The AI PCs will be really more meaningful in 2025," Lores said on Wednesday.
